HBAR Bulls Ready to Defend Key Support Zone

Hedera's (HBAR) price has declined by 10% in the past day, leaving many wondering if the asset will rebound or continue its downtrend.

According to chart analysis, HBAR has fallen into a potential resistance-turned-support zone between $0.102 and $0.101, an area that has previously prevented price upswings on six separate occasions.

This level has acted as a magnet for the asset's price, causing it to rebound after dropping below it in the past. However, this is not confirmation of a bullish market trend.

In a bullish scenario, price could make an upswing, extending gains by 31% and reaching a high of $0.134 on the chart from its current level.